Author: Ben Goodrich / Content Type: Policy Brief / Political Geography: United States / Topic: International Trade and Finance

Author:: Gary Clyde Hufbauer and Ben Goodrich
Publication Date:: 10-2003
Content Type:: Policy Brief
Institution:: Peterson Institute for International Economics
Abstract:: In May 2003, the World Trade Organization (WTO) dispute panel ruled that US steel safeguards imposed in March 2002 are illegal. The WTO Appellate Body is all but certain to confirm the panel's judgment, probably by December 2003. Then the Bush administration will face an important choice. It can keep the safeguards in place, pleasing steel producers and important constituencies in West Virginia, Pennsylvania, and Ohio. However, doing so would further anger steel users, who have probably lost more business and jobs as a direct consequence of the safeguards than steel producers have gained. Maintaining the safeguards would also send a signal to the world's trading nations that the United States is not prepared to endure the political cost of eliminating steel protection. Furthermore, the administration would run the risk that, in the middle of a presidential election season, foreign countries will exercise their rights under the WTO to retaliate.
Topic:: Government and International Trade and Finance
Political Geography:: United States, Pennsylvania, Ohio, and West Virginia

Author:: Gary Hufbauer and Ben Goodrich
Publication Date:: 06-2003
Content Type:: Policy Brief
Institution:: Peterson Institute for International Economics
Abstract:: A good proposal to eliminate tariffs must take into account both the pain and gain that developing countries are likely to experience. The authors take the measure of these costs and benefits and urge rich countries to maximize the benefits to developing countries while giving them ample time to accept, and adjust to, the changes that trade liberalization will require. But trade liberalization should not stop with tariff proposals. The United States and other industrial countries should generously reduce subsidies to farmers and eliminate nontariff barriers on agricultural imports. The United States should offer more concessions on services trade, particularly in its allowances for temporary foreign workers. Unless rich countries put more on the table, a WTO agreement to eliminate tariff barriers may be postponed for years.
Topic:: Economics, International Trade and Finance, Political Economy, and Third World
Political Geography:: United States

Author:: Gary C. Hufbauer and Ben Goodrich
Publication Date:: 01-2003
Content Type:: Policy Brief
Institution:: Peterson Institute for International Economics
Abstract:: While the US steel industry has been in distress for decades, the “steel crisis” of 1999-2001 was particularly acute. More than 30 steel producing and steel processing firms fell into bankruptcy between 1997 and 2001, and most of the failures occurred after President Bush took office. During his presidential campaign, Bush promised steelworkers that he would not neglect them. As the crisis worsened, the steel industry and the United Steel Workers of America (USWA) pressed the Bush administration to make good on its campaign promise.
Topic:: Government, Industrial Policy, and International Trade and Finance
Political Geography:: United States and America

Author:: Gary Clyde Hufbauer and Ben Goodrich
Publication Date:: 05-2002
Content Type:: Policy Brief
Institution:: Peterson Institute for International Economics
Abstract:: The US Export-Import (Ex-Im) Bank is again at the center of controversy, as Congress debates the terms for its charter renewal. This policy brief critiques provisions of the House and Senate versions of the reauthorization bill and summarizes three justifications for Congress giving adequate support to the Ex-Im Bank. Box 1 provides a capsule description of the Ex-Im Bank's operations.
Topic:: Economics, Government, and International Trade and Finance
Political Geography:: United States

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